Mumbai: BSE Sensex and NSE Nifty 50 fell off record highs on Wednesday after oil showed signs of heating up amid outflow of foreign capital. Crude oil surged to the highest level since mid-2015 after a pipeline blast in Libya restricted Opec (Organisation of the Petroleum Exporting Countries) output, reigniting worries on inflation and the spectre of fiscal slippage. The NSE Nifty slid 40.75 points, or 0.39%, to 10,490.75 after scaling a fresh peak of 10,552.40. Ahead of this year’s last expiry in derivative contracts tomorrow, the participants were seen liquidating their bets at a record level. State-owned oil companies such as IOC, HPCL and BPCL fell by up to 1.73% as crude oil prices surged in global markets.

Source: Mint December 27, 2017 12:00 UTC